The Obama administration's plan to increase annual appropriations for IRS enforcement efforts by more than $1 billion met criticism Tuesday from Republican members of the U.S. Senate Finance Committee. In response to testimony by IRS Commissioner John Koskinen on the impact of past budget reductions, committee Chairman Orrin Hatch (R-UT) said the agency has been hampered less by funding cuts than the growth in the number of federal programs it administers, including "a labyrinth of new rules called the Foreign Account Tax Compliance Act." "As the agency that collects taxes from American workers and businesses, your agency will continue to...
The Internal Revenue Service's Criminal Investigation Division initiated 19 percent fewer investigations and recommended nearly 900 fewer prosecutions in fiscal year 2014 than in the previous year, the agency said in a report Tuesday.
Several Treasury Department agencies tasked with fighting money laundering and other financial crimes would see modest budget increases in a White House plan disclosed Monday.
The Internal Revenue Service will no longer move to quickly seize funds linked solely in suspicious activity reports to potential structuring of legally derived money, an agency leader said Sunday.
ACAMS moneylaundering.com spoke with the co-head of the United Kingdom's Serious Fraud Office's bribery and corruption unit, Ben Morgan, about his hopes of securing the U.K.'s first deferred prosecution agreement with a corporate.
The U.S. Treasury Department's budget would see a four percent increase over last year's funding under a White House proposal scheduled to take effect in October.
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